Dairygold confirms increase in March milk price
The Dairygold board has today (Friday, April 17) confirmed that it has increased the March quoted milk price by 1c/L to 37c/L.
This is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality payments and VAT.
The March milk price equates to an average farm gate milk price of 42.3c/L for the month according to the processor.
This is based on the average milk solids, achieved by Dairygold milk suppliers.
Dairygold March milk price
The quoted milk price for March, based on EU Standard constituents of 3.4% protein and 4.2% butterfat, is 40.6c/L, inclusive of VAT.
Commenting on the board’s decision, Dairygold chairperson, Pat Clancy said: “Overall market fundamentals remain finely balanced amid ongoing geopolitical uncertainty and elevated global milk supply.
"There has been a recent positive uplift for protein, which has counterbalanced relatively weaker butterfat pricing.
"Dairygold remains focused on maximising returns to its milk suppliers, amid ongoing inflation and cost pressures on farm."
He added that the Dairygold board will continue to monitor markets closely and review milk price on a monthly basis.
Global dairy trade
Earlier this month, the Global Dairy Trade (GDT) index recorded a decrease of more than 3% since its previous event in March.
This was a reversal of the trend which had seen the GDT Index increase consistently since the start of the year in previous events.
